America’s fiscal future is gloomy according to the Congressional Budget Office? Historic deficits, record debt, and higher taxes? Hey, hello! Anyone look in the present mirror!?
All sense, truth, wisdom, responsibility, accountability, and stewardship from the top of government to the overwhelming majority of households in America has been tossed out long, long, long ago.
The illusion is coming into focus. The mirage, the delusion finally coming into view through the thick dark smoke and myriad mirrors that have been installed over the decades of lies, abuses, evil dealings, misappropriation, and living in a state of fantasy.
Living like a sugar addict barricading themselves in a candy factory and deluding themselves they have entered heaven — to live in a constant state of consumption of that which leads to ill health and eventual death. Malnourished, refusing balance, refusing any morsel of truth or reality to enter.
How about the record debt — people are living off of plastic. Plastic people living off of plastic buying everything packaged in plastic. Just as the Founders had worked for, right? Just as God intended, right?
Credit card debt, the amount owed by all Americans on their credit cards, rose to a record $1,130,000,000,000 trillion at the end of last year, the Federal Reserve Bank of New York reported Tuesday, February 6th.
Card balances increased by about $50 billion, or 4.6%, in the fourth quarter of 2023.
Historic deficits in the future? How about a dose of PRESENT REALITY? Check it out!
Higher taxes in the future? Seriously? Every fee, service charge, toll, tip, anything, and everything beyond the actual cost of any item is a tax. The word tax being omitted is just another one of the words that have fallen to language corruption, perversion, and refusing to speak or write plainly, clearly, and honestly. As if disguising a tax using other arranged letters of the alphabet thusly means it isn’t really a tax.
This is from 2022; Government Will Collect Record-High Income Taxes Because People Got Raises (businessinsider.com)
America — from the top on down has been in strong delusion shunning any semblance of reality, despising the truth, pushing all reality under an old rug that now has snow peaks reaching higher than Mount Everest while lying through their teeth that all is well. No worries. Our best days lie ahead of us.
Our irresponsibility, our lack of accountability, our love of lying and delusion and residing in a constant state of illusion and banality, this very tangible physical side of matters is in direct relationship to our lack of responsibility, accountability, loving the lie rather than the truth, residing in banality and delusion, claiming a spirituality all the while turning to listening to and believing the devil rather than God — as nothing has changed one iota since that eventful day in the Garden of Eden.
Our fiscal demise goes hand in hand with our spiritual pallor, our spiritual malnourishment. We are not being blessed as we once were due to our turning from God, turning from Jesus, turning from the Holy Spirit, and turning from the Word of God as we once abided in among a great number of sincere folks at one time in this nation. A nation brought into existence by the Divine Providence of God Almighty, for no other fact or reason could explain how the state of the colonies were able to defeat the mightiest, strongest best-equipped navy, army, and nation on earth.
It was David slaying Goliath.
Only it resulted in the formation of America.
Only to be squandered, treated horribly, determined to focus on self, on the material at all costs perverting, corrupting, running from the spiritual, from the ways and Word of God, from THE FAITH.
Pretending to do that now as we also pretend all is well and our fiscal ill health needn’t be honestly addressed, so too, we avoid addressing the malnourishment and improper feeding and health of our spiritual natures.
Sorry, but yoga, paganism [New Age doctrines and beliefs and practices], Eastern religions, diversity, equality and inclusion, tolerance of anything and everything, allowing ravenous wolves to enter in and listening to them, following them as if they are the savior leading one to the Promised Land, our rotting and decay of virtue, honor, purity, truth, those things noble, just and of good report, those things truly lovely and praiseworthy have all but vanished in America today.
Finally, brothers and sisters, whatever is true, whatever is noble, whatever is right, whatever is pure, whatever is lovely, whatever is admirable—if anything is excellent or praiseworthy—think about such things. Whatever you have learned or received or heard from me, or seen in me—put it into practice. And the God of peace will be with you.
Philippians 4:8-9 New International Version
Finally, brethren, whatever things are true, whatever things are noble, whatever things are just, whatever things are pure, whatever things are lovely, whatever things are of good report, if there is any virtue and if there is anything praiseworthy—meditate on these things. The things which you learned and received and heard and saw in me, these do, and the God of peace will be with you.
Philippians 4:8-9 New King James Version
Finally, brothers, whatever is true, whatever is honorable, whatever is just, whatever is pure, whatever is lovely, whatever is commendable, if there is any excellence, if there is anything worthy of praise, think about these things. What you have learned and received and heard and seen in me—practice these things, and the God of peace will be with you.
Philippians 4:8-9 English Standard Version
I’m old enough to have known people, nonbelievers in Christ, not Christians who exhibited some or even many of those attributes.
No more. None of those attributes exist in the world today, in America, and we delude ourselves into thinking otherwise. We’re not paying attention if we imagine those attributes exist no matter how many banal human interest stories replace real news air on the local or national news that you follow.
This is what now exists throughout America among those who are not true disciples of the Lord Jesus Christ, not true children of God but rather children of disobedience, outside of Christ and thus who are darkness.
Woe to those who call evil good, and good evil; Who put darkness for light, and light for darkness; Who put bitter for sweet, and sweet for bitter!
Isaiah 5:20
For the wrath of God is revealed from heaven against all ungodliness and unrighteousness of men, who suppress the truth in unrighteousness, because what may be known of God is manifest in them, for God has shown it to them. For since the creation of the world His invisible attributes are clearly seen, being understood by the things that are made, even His eternal power and Godhead, so that they are without excuse, because, although they knew God, they did not glorify Him as God, nor were thankful, but became futile in their thoughts, and their foolish hearts were darkened. Professing to be wise, they became fools, and changed the glory of the incorruptible God into an image made like corruptible man—and birds and four-footed animals and creeping things.
Therefore God also gave them up to uncleanness, in the lusts of their hearts, to dishonor their bodies among themselves, who exchanged the truth of God for the lie, and worshiped and served the creature rather than the Creator, who is blessed forever. Amen.
For this reason God gave them up to vile passions. For even their women exchanged the natural use for what is against nature. Likewise also the men, leaving the natural use of the woman, burned in their lust for one another, men with men committing what is shameful, and receiving in themselves the penalty of their error which was due.
And even as they did not like to retain God in their knowledge, God gave them over to a debased mind, to do those things which are not fitting; being filled with all unrighteousness, sexual immorality, wickedness, covetousness, maliciousness; full of envy, murder, strife, deceit, evil-mindedness; they are whisperers, backbiters, haters of God, violent, proud, boasters, inventors of evil things, disobedient to parents, undiscerning, untrustworthy, unloving, unforgiving, unmerciful; who, knowing the righteous judgment of God, that those who practice such things are deserving of death, not only do the same but also approve of those who practice them.
Romans 1:18-32
Don’t believe this? Have you heard, have you seen what has and is taking place daily all around you? In every place, every institution, corporation, governmental agency, and branch, schools, and churches.
Our fiscal decay and rot are directly connected to our spiritual decay and rot.
A people turned from God, turned from Christ, turned from the Holy Bible to their own ways in direct rebellion against God, doing whatever is right in their own minds, revealing their utter hatred of God cannot continue to delude themselves they will continue to receive the blessings of God.
Especially a people, a place that came into being through God’s Providence to make it so.
We had our own sort of earthly paradise, though we’re all fallen sinners, set apart from the world for a spell. We have ruined it by our sin and disobedience and our turning to self, to indulgences, excesses, and abuses foolishly acting as if the mechanism would never fail, fall apart, or need constant attention to keep it working as it was created.
Woe to U.S.
And it’s only going to get worse. A whole lot worse. And then even worse than that…
These are the good ‘ol days compared to what lies just ahead — not that far into the future.
Don’t believe this? Want to know where America is in the Bible? Well, pick up a Bible and read and believe what THE NATIONS — no exclusions — are doing and will do and what is to come for THE NATIONS — no exclusions — as a result of their sin and turning from God and attempting to remove Israel from the face of the earth…
The Way of the Righteous and the End of the Ungodly
Blessed is the man
Who walks not in the counsel of the ungodly,
Nor stands in the path of sinners,
Nor sits in the seat of the scornful;
But his delight is in the law of the Lord,
And in His law he meditates day and night.
He shall be like a tree
Planted by the rivers of water,
That brings forth its fruit in its season,
Whose leaf also shall not wither;
And whatever he does shall prosper.
The ungodly are not so,
But are like the chaff which the wind drives away.
Therefore the ungodly shall not stand in the judgment,
Nor sinners in the congregation of the righteous.
For the Lord knows the way of the righteous,
But the way of the ungodly shall perish.
The Messiah’s Triumph and Kingdom
Why do the nations rage,
And the people plot a vain thing?
The kings of the earth set themselves,
And the rulers take counsel together,
Against the Lord and against His Anointed,saying,
“Let us break Their bonds in pieces
And cast away Their cords from us.”
He who sits in the heavens shall laugh;
The Lord shall hold them in derision.
Then He shall speak to them in His wrath,
And distress them in His deep displeasure:
“Yet I have set My King
On My holy hill of Zion.”
“I will declare the decree:
The Lord has said to Me,
‘You are My Son,
Today I have begotten You.
Ask of Me, and I will give You
The nations for Your inheritance,
And the ends of the earth for Your possession.
You shall break them with a rod of iron;
You shall dash them to pieces like a potter’s vessel.’ ”
Now therefore, be wise, O kings;
Be instructed, you judges of the earth.
Serve the Lord with fear,
And rejoice with trembling.
Kiss the Son, lest He be angry,
And you perish in the way,
When His wrath is kindled but a little.
Blessed are all those who put their trust in Him.
Psalms 1 & 2
Notice, nowhere does it say, “except for Americans,” or “except for America.”
Read on…
And best prepare and equip yourself greater spiritually in those things of God and the Holy Bible than in a bunker, a boogie bag, ten years worth the emergency food, a stockpile of ammunition or solar panels, and an electric vehicle…
We all have a far greater debt paid for by God coming to earth to die on the tree of shame, the cross, shedding His precious sinless blood to pay our debt if we believe, if we are truly faithful if we are obedient and run the good race to the finish.
America is going to vanish. Forever. But heaven and hell are forever. Eternal.
Where ought we place our priorities and focus? Invest wisely in?
In the ways, words, philosophies, and practices of man?
Or God?
Ken Pullen, Friday, February 16th, 2024
America’s Fiscal Future: Historic Deficits, Record Debt & Higher Taxes
February 12, 2024
Reprinted from The Washington Stand & Prophecy News Watch
America’s fiscal future is gloomy, according to the 10-year forecast released Wednesday by the economic meteorologists (accountants, really) at the Congressional Budget Office (CBO). The CBO projected that by 2034 the U.S. federal government will run a $2.6 trillion deficit, equivalent to 6.1% of GDP, while public-held debt would nearly double from $26 trillion to $48 trillion, reaching a record 116% of GDP. These numbers are “mind boggling” and “absolutely astounding,” said Heritage Foundation research fellow Jeffrey Griffith on “Washington Watch.”
Indeed, the historic nature of America’s irresponsible borrowing binge is so unprecedented that it earned multiple mentions in the CBO’s report summary. The CBO noted that a debt equivalent to 116% of GDP represents “an amount greater than at any point in the nation’s history.” That’s more debt — both in absolute terms, and as a percentage of GDP — than the U.S. accumulated during any war, including the Revolutionary War and World War II, during any economic crisis or peacetime spending binge, or even during the century and a half that the government survived without an income tax.
Regarding the deficit reaching 6.1% of GDP (the 50-year average is 3.7%), the report noted that “deficits have exceeded that level” only three times since the Great Depression: “During and shortly after World War II, the 2007-2009 financial crisis, and the coronavirus pandemic.” In other words, soon the U.S. federal government will be running up the credit card as fast as it did during America’s largest international war and the two worst economic crises of this millennium — for no discernable reason at all.
The problem, fundamentally, is too much spending. The CBO estimated government revenues to average 17.8% of GDP over the next 10 years, slightly above the 50-year average of 17.3%. That estimate was based on the assumption that the 2017 tax cuts will be allowed to expire in 2025. By contrast, the CBO estimated that government spending will average 23.5% over the next decade, topping out at 24.1%, far higher than the 50-year average of 21%.
Although the CBO’s statistics might be useful for comparisons over time, they fail to communicate the gravity of America’s current economic peril. Griffith bridged the gap by converting the trillions into numbers that can be brought home to each family. “We owe $400,000 per family in federal debt,” he said. “We’re expected to add another quarter million dollars per family over the next 10 years.” Who’s ready for a third mortgage?
Two types of spending were leading culprits in the CBO’s growing deficit projection: “Growth in spending on programs that benefit elderly people and rising net interest costs” — in other words, mandatory entitlement spending and servicing the debt. The CBO projected that mandatory spending will increase steadily to 15.1% of GDP, net interest payments will increase to 3.9%, while discretionary spending (both military and domestic) will actually decrease to 5.1% by 2034 — if you can believe it.
Forecasters have known for decades about the fiscal turbulence catalyzed by the rising longevity of America’s aging population. The relatively new factors are the recent arrival of a high interest system and its costly interaction with mountains of recently accrued debt.
According to the Committee for Responsible Budget, for the first time, net interest payments exceeded Medicaid spending in 2023 and will exceed defense spending and Medicare spending in 2024. “Starting next year,” wrote CBO, “net interest costs are greater in relation to GDP than at any point since at least 1940, the first year for which the Office of Management and Budget reports such data.”
Griffith translated, “We’re already paying around $10,000 per family per year, just on the interest on the federal debt. And that is going to nearly double to close to $20,000 per family per year.” Sorry, Jimmy, I know you wanted to go to college. But now your Uncle Sam needs that money to pay off his gambling debts.
These factors, combined with sultry stagnation of Bidenomics, are cooking up the perfect fiscal storm. Americans can expect a “Poor Front” to follow. “Such soaring debt would slow economic growth, push up interest payments to foreign holders of U.S. debt, and pose significant risks to the fiscal and economic outlook,” analyzed the CBO. “It could also cause lawmakers to feel more constrained in their policy choices.” Coming from an agency that reports to Congress, that last sentence is the bureaucratic equivalent of, “Don’t say I didn’t warn you, boss.”
Based on historical precedents, Griffith described “multiple ways this can pan out.” Through Door Number One, America could fully embrace European socialism. We already have most of the social programs; now we just need the taxes to match. This solution could avoid the fiscal crisis at the cost of “a long-term relative decline in our prosperity,” said Griffith. Through Door Number Two lies the fate of Portugal, Italy, Greece, and Spain, who nearly went bankrupt during the Great Recession through extreme profligacy. To obtain the foreign loans they needed to stay afloat, they were forced to make deep spending cuts dictated by outside countries — which naturally caused massive social unrest. Through Door Number Three, Griffith described “very extreme examples” of hyperinflation, such as Argentina and Venezuela. “None of the scenarios are good,” he warned.
Predicting the future is notoriously impossible, and CBO budget forecasters are usually no more successful than weather meteorologists. If anything, however, the CBO’s debt estimate is a conservative, even “optimistic” one, as The Wall Street Journal editorial board remarked skeptically. “They assume no recession and that the 2017 individual tax cuts and Inflation Reduction Act’s sweetened ObamaCare subsidies expire in 2025. Oh, and that Congress doesn’t lather on more spending, and more student debt isn’t canceled by executive decree.” That’s four unsafe assumptions that each lower the CBO’s 10-year debt estimate.
Undeterred by the glowering forecast, the Biden administration has planned a weekend cook-out. “Over the past three years, the Biden administration has driven an historic recovery,” Treasury Secretary Janet Yellen declared during Thursday testimony before the Senate Banking Committee, with all the cheeriness of a turnip. She later conceded under questioning that “we need to reduce deficits and to stay on a fiscally sustainable path,” an answer as effective as a clogged culvert. “By suggesting that we need to stay on a sustainable path, she’s saying we’re on one right now,” Griffith responded. “We are already on the path to unsustainability.”
Yellen further argued that America’s current debt burden is nothing to worry about. “Thus far, in real terms, the interest burden of the debt has remained within or below historical norms,” she said. According to the CBO, the 50-year average of net interest expenditures is 2.1% of GDP; the U.S. government spent 2.4% of GDP servicing the debt in 2023 and will spend 3.1% of GDP servicing the debt in 2024. Coming from a current Treasury Secretary and former Federal Reserve chair, Yellen’s remark is akin to an air traffic controller arguing, “Thus far, in real terms, that jet airliner accelerating down the runway has not yet become airborne.”
In response to a question from Senator Mike Rounds (R-S.D.), Yellen said she had “seen no sign” of waning foreign interest in U.S. debt, an “absolutely ludicrous” remark in Griffith’s estimation. “Over the last two and a half years, foreign investors have only been willing to purchase about one penny of every new dollar of federal debt that we’ve taken on. In years past, foreign investors bought about one third of our federal debt,” Griffith explained. “With investor demand drying up for that debt, that means that the federal government has to pay more to those who will lend us money. … That trickles down directly to us as consumers.”
While the Biden administration may be unconcerned about the debt, at least some members of Congress have sought to restore sanity and accountability to the budgeting process. Thus far, their achievements have been flimsy at best. As a result of the spending cuts Republicans negotiated in the debt limit deal last summer, the CBO reduced their estimated deficit for 2024 by $0.1 trillion (4%) and their estimated cumulative deficit for 2024-2033 by $1.4 trillion (7%). You could as easily dig a trench with a teaspoon, or stop a locomotive’s momentum with a Q-tip, as resolve America’s budgetary crisis with such puny half-measures.
This situation illustrates the truth that elections have consequences. The reason why congressional budget hawks can’t achieve any significant savings is that there are too few of them, compared to their colleagues who want to keep spending money. At root, this is a problem that can only be solved when voters and candidates get serious about demanding and delivering fiscal sanity in Washington. America is barreling straight toward a fiscal cliff. Will anyone care enough to stop her?
Joshua Arnold is a senior writer at The Washington Stand.
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